Research supports 'soft' pension compulsion - L&G

Legal & General believes legislation should force employers to match contributions made by employees joining pension schemes on a pound for pound basis, up to an initial maximum level of 3% of pay. Adrian Boulding, director of pensions strategy at L&G says a ‘soft’ compulsion proposal forces the employer’s hand to support staff wanting a pensions savings vehicle, while employees with more pressing financial priorities need not join the scheme and so retain 100% of their wages. Data released by the firm from its own staff pension fund, which offers 5,000 members matching employer contrib...